The SWIR market is expected to grow at a CAGR of 7.68% between 2017 and 2022, to reach USD 1,357.7 million by 2022 from USD 809.9 million in 2016. The high demand for SWIR cameras from the industrial vertical is one of the major factors fueling the growth of the said market.

Semiconductor inspection, thermography, solar cell inspection, and glass inspection are some of the applications for which SWIR cameras are used in the industrial vertical. The high price of SWIR cameras compared with other substitute technologies has hampered the widespread application of these cameras.

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This is currently the major factor limiting the growth of the said market.

The market for line scan SWIR cameras is expected to witness significant growth during the forecast period. The major applications of line scan cameras are in the industrial vertical.

These cameras are well suited for applications requiring imaging of fast-moving objects, and their cost is lower than that of area scan cameras, thereby leading to their wide adoption in the industrial vertical.

The SWIR market based on technology is segmented into cooled and uncooled cameras. Cooled SWIR cameras have detectors that are usually more sensitive than uncooled SWIR cameras, while the cost of uncooled cameras is generally lower than that of cooled cameras.

The high cost of cooled SWIR cameras is currently limiting the penetration rate of these cameras. However, technological advancements in the SWIR industry are expected to lower down the cost of SWIR cameras, thereby boosting the growth of the cooled SWIR market.

This research report categorizes the SWIR market on the basis of scanning type, technology, vertical, and geography. The report also provides a description of the major drivers, restraints, challenges, and opportunities pertaining to this market, as well as the value chain analysis and market ranking analysis.